Crypto ETFs Set Record With $62,900,000,000 Yearly Flows After Four Straight Green Weeks: CoinShares
Digital asset investment vehicles are setting record yearly flows after a month of inflows, according to leading crypto asset management firm CoinShares. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says that crypto exchange-traded products (ETPs) enjoyed nearly a billion dollars in inflows last week alone. “Digital asset investment products recorded a fourth consecutive week of inflows, totaling US$882m globally. Year-to-date (YTD) inflows now stand at US$6.7bn, approaching the US$7.3bn peak reached in early February this year. We believe the sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US, and several US states approving Bitcoin as a strategic reserve asset.” While Canada and Hong Kong saw $8 million and $4.3 million in outflows, the United States led the world with $840 million in inflows, followed by Germany and Australia at $44.5 ...